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The Partnership (Unrestricted Size) No. 7 Regulations 1990
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Statutory Instruments
1990 No. 1969
PARTNERSHIP
The Partnership (Unrestricted Size) No. 7 Regulations 1990
Made
1st October 1990
Coming into force
26th October 1990
The Secretary of State, in exercise of the power conferred on him by sections 716(2)(d) and 744 of the Companies Act 1985(1), hereby makes the following Regulations:
1. These Regulations may be cited as the Partnerships (Unrestricted Size) No. 7 Regulations 1990 and shall come into force on 26th October 1990.
2. Section 716(1) of the Companies Act 1985 does not prohibit the formation for the purpose of carrying on business as town planners of a partnership consisting of persons not less than three-quarters of the total number of whom are members of the Royal Town Planning Institute.
3. For the purposes of these Regulations, a member of the Royal Town Planning Institute is an individual who is a corporate member of that Institute within the meaning of its constitution.
John Redwood
Parliamentary Under-Secretary of State,
Department of Trade and Industry
1st October 1990
Explanatory Note
(This note is not part of the Regulations)
Section 716 of the Companies Act 1985 prohibits the formation of partnerships of more than 20 persons. These Regulations exempt from that prohibition partnerships formed for the purpose of carrying on business as town planners and consisting of persons at least three-quarters of whom are members (as defined) of the Royal Town Planning Institute.
(1)
1985 c. 6; section 716(2)(d) was inserted by the Companies Act 1989 (c. 40), section 145 and Schedule 19, paragraph 15(2); section 744 contains a definition of “prescribed” relevant to the exercise of the power conferred by section 716(2)(d).
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